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U.S. Census Bureau
U.S. Bureau of Economic Analysis
NEWS
U.S. Department of Commerce * Washington, DC 20230
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
October 2010
Goods and Services
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the
Department of Commerce, announced today that total October exports of $158.7
billion and imports of $197.4 billion resulted in a goods and services deficit of
$38.7 billion, down from $44.6 billion in September, revised. October exports
were $4.9 billion more than September exports of $153.8 billion. October imports
were $0.9 billion less than September imports of $198.4 billion.
In October, the goods deficit decreased $5.7 billion from September to $51.4
billion, and the services surplus increased $0.2 billion to $12.7 billion. Exports
of goods increased $4.5 billion to $112.3 billion, and imports of goods decreased
$1.2 billion to $163.7 billion. Exports of services increased $0.4 billion to $46.4
billion, and imports of services increased $0.2 billion to $33.7 billion.
The goods and services deficit increased $6.4 billion from October 2009 to October
2010. Exports were up $20.6 billion, or 14.9 percent, and imports were up $27.0
billion, or 15.9 percent.
Goods (Census basis)
The September to October increase in exports of goods reflected increases in
industrial supplies and materials ($2.6 billion); foods, feeds, and beverages
($0.7 billion); automotive vehicles, parts, and engines ($0.4 billion); capital
goods ($0.4 billion); other goods ($0.1 billion); and consumer goods ($0.1 billion).
The September to October decrease in imports of goods reflected decreases in
industrial supplies and materials ($1.7 billion); capital goods ($0.9 billion);
and foods, feeds, and beverages ($0.1 billion). Increases occurred in consumer
goods ($1.3 billion) and other goods ($0.3 billion). Automotive vehicles, parts,
and engines were virtually unchanged.
The October 2009 to October 2010 increase in exports of goods reflected increases
in industrial supplies and materials ($7.2 billion); capital goods ($4.6 billion);
foods, feeds, and beverages ($2.1 billion); automotive vehicles, parts, and engines
($1.8 billion); other goods ($1.2 billion); and consumer goods ($0.3 billion).
The October 2009 to October 2010 increase in imports of goods reflected increases
in industrial supplies and materials ($7.0 billion); capital goods ($7.0 billion);
consumer goods ($5.6 billion); automotive vehicles, parts, and engines ($3.3 billion);
foods, feeds, and beverages ($0.9 billion); and other goods ($0.3 billion).
Services
Services exports increased $0.4 billion from September to October. The increase
was mostly accounted for by increases in other private services (which includes
items such as business, professional, and technical services, insurance services,
and financial services), travel, and other transportation (which includes freight
and port services). A decrease in transfers under U.S. military sales contracts
was partly offsetting. Changes in the other categories of services exports were small.
Services imports increased $0.2 billion from September to October. The increase was
more than accounted for by increases in other private services, travel, and passenger
fares. A decrease in other transportation was partly offsetting. Changes in the
other categories of services imports were small.
The October 2009 to October 2010 increase in exports of services was $3.5 billion.
The largest increases were in travel ($1.1 billion), other private services
($1.0 billion), and passenger fares ($0.7 billion). Within other private services,
the largest increase was in business, professional, and technical services.
The October 2009 to October 2010 increase in imports of services was $2.5 billion.
The largest increases were in other transportation ($1.0 billion), other private
services ($0.6 billion), and travel ($0.4 billion). Within other private services,
the largest increase was in business, professional, and technical services.
Goods and Services Moving Average
For the three months ending in October, exports of goods and services averaged
$155.2 billion, while imports of goods and services averaged $198.6 billion,
resulting in an average trade deficit of $43.4 billion. For the three months
ending in September, the average trade deficit was $44.8 billion, reflecting
average exports of $153.3 billion and average imports of $198.1 billion.
Selected Not Seasonally Adjusted Goods Details
The October figures show surpluses, in billions of dollars, with Hong Kong $1.9
($2.3 for September), Australia $1.3 ($1.2), Singapore $0.6 ($0.7), and Egypt
$0.5 ($0.6). Deficits were recorded, in billions of dollars, with China $25.5 ($27.8),
European Union $7.1 ($6.1), Mexico $5.8 ($5.8), OPEC $5.7 ($8.9), Japan $5.7 ($5.0),
Germany $3.3 ($2.7), Ireland $2.7 ($2.2), Nigeria $1.8 ($2.5), Venezuela $1.2 ($1.9),
Korea $1.1 ($1.3), Canada $1.1 ($0.9), and Taiwan $1.0 ($0.9).
Advanced technology products exports were $23.7 billion in October and imports were
$32.2 billion, resulting in a deficit of $8.4 billion. October exports were $0.8
billion more than the $23.0 billion in September, while October imports were $0.2
billion more than the $31.9 billion in September.
Revisions (Goods on a Census basis, not seasonally adjusted)
For September, goods exports were revised up $0.2 billion and imports were revised
up $0.5 billion. Goods carry-over in October was $0.5 billion (0.5 percent) for
exports and $1.0 billion (0.6 percent) for imports. For September, revised export
carry-over was virtually zero. For September, revised import carry-over was $0.2
billion (0.1 percent), revised down from $0.6 billion (0.4 percent).
Services exports and imports for April 2010 through September 2010 reflect the
incorporation of more comprehensive and revised quarterly and monthly data. For
services exports, the largest monthly revisions were in other private services.
For services imports, the largest monthly revisions were in travel.
Services exports for September were revised down $0.5 billion to $46.0 billion.
The revision was mostly accounted for by downward revisions in other private services
and royalties and license fees. An upward revision in transfers under U.S. military
sales contracts was partly offsetting. Services imports for September were revised
down $0.2 billion to $33.5 billion. The revision was mostly accounted for by downward
revisions in travel and passenger fares.